ATARS II: $1.1B to Lockheed to Train AFSOCOM Pilots. Lockheed Martin has announced a 10-year Aircrew Training and Rehearsal Support II (ATARS II) contract from USAF Special Operations Command (AFSOCOM).
You invest pre-tax earnings in an IRA and your investment grows on a tax-deferred basis. You can use IRA funds to buy almost any kind of investment including an annuity. Under federal tax laws, you must begin making annual withdrawals from your IRAs once you reach the age of 70 1/2. The size of the withdrawals depends on your life expectancy and the balance of your IRA accounts.
For a single premium contract, you pay the insurance company only one payment, whereas you make a series of payments for a multiple premium. With an immediate annuity, income payments start no later than one year after you pay the premium. The income payments from a deferred annuity often start many years later.